Today, AccorHotels announced the close of its acquisition of Mövenpick Hotels & Resorts. The transaction involves the purchase of 100 percent of the share capital of Mövenpick Hotels & Resorts, and ownership of the Mövenpick brand for all activities related to the hospitality business. AccorHotels has made this acquisition at an EV of CHF 560 million (€ 482 million).

With the close of this acquisition, AccorHotels has become the largest operator by room number in the Middle East and Africa with a committed network (operational and pipeline) of over 400 hotels representing almost 100,000 rooms across the region.